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75 comments on Albany Coddles the Oil Addicts

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dinopello on May 11, 2006 - 3:24pm Permalink | Subthread | Parent | Comments top
Did Pickens say cut Payroll or Income taxes to compensate, or both ?   Either way, I'm with T Boone.  

However, if gas prices are lowered by reducing taxes wouldn't the market reaction be to increase consumption, and if supplies are really constrained, the price will just bounce right back up to equilibrium, right?  Only difference is that someone in the supply chain would be getting the extra money instead of the public coffers.

The best bad alternative might be price controls so that shortages develop.  That would really get people's attention.  I'm only half kidding.  

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westexas on May 11, 2006 - 5:42pm Permalink | Subthread | Parent | Comments top
He suggested a cut to the Payroll Tax, which is highly regressive, levied on the first dollar of income.  
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